TikTok's Chinese parent company, ByteDance, has agreed to divest the app's U.S. operations, two people familiar with the matter told Reuters on Saturday. The report comes a day after President Trump said he would ban the popular app in the United States amid Washington's concern over ByteDance's data collection, which the Trump administration believes poses a national security threat. Under the proposed deal, Microsoft would take over U.S. operations. It's unclear if Trump's threat was little more than a negotiating tactic to force ByteDance into fully selling the app, rather than retaining a minority stake, as it had preferred. ByteDance's apparent willingness to make that concession will test whether the president was bluffing.

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